Brueckner, MarkusPappa, Evi2022-05-112022-05-112015-09-29Brückner, M., & Pappa, E. (2015). News shocks in the data: Olympic Games and their macroeconomic effects. Journal of Money, Credit and Banking, 47 (7), pp. 1339-1367.0022-2879https://hdl.handle.net/10016/34781We examine the macroeconomic effects of bidding for the Olympic Games using panel data for 188 countries during the period 1950-2009. Our findings confirm that economies react to news shocks: investment, consumption, and output significantly increase nine to seven years before the actual event in bidding countries. Hosting countries also experience significant increases in investment, consumption and output five to two years before the hosting of the Games. The macroeconomic effects associated with hosting the Olympic Games occur well in advance before the actual event.eng© 2015 The Ohio State UniversityNews shocksMega eventAnticipationresearch articleE62E65Economíahttps://doi.org/10.1111/jmcb.12247open access133971367JOURNAL OF MONEY CREDIT AND BANKING47AR/0000029314